Sensex, Nifty erase early losses to trade in green; IT stocks limit gains
Benchmark stock market indices opened lower on Thursday, dragged by a decline in IT stocks due to lack of fresh triggers. However, the indices quickly erased early losses to trade in green.The S&P BSE Sensex was up by 89.24 points to 82,604.38, while the NSE Nifty50 added 31.45 points to 25,163.80 as of 9:27 am.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that the recent flattish trend in the market is likely to continue in the near-term since there are no clear positive triggers that can push the market much higher.advertisement
"There are reports of a possible agreement between the U.S. and China. But the Chinese haven't officially confirmed anything. President Trump is talking about 55% tariff on China and 10% tariff on U.S. President Trump's credibility being what it is, it would be too early to discount this as positive for markets," he added.The top gainers on the Sensex were led by Asian Paints, which surged 2.11%, followed by Sun Pharma with a gain of 1.87%. Bajaj Finserv climbed 1.54%, while Bharti Airtel rose 1.01% and NTPC added 0.86% to open higher.On the losing side, Infosys was the worst performer, declining 1.20%, followed by Eternal Limited which fell 0.66%. Tata Motors dropped 0.66%, Tech Mahindra lost 0.65%, and HCL Technologies declined 0.49% during the early trading session."The spike in Brent crude to $70 on heightened security risks in the Middle East is a negative for India. Sectors like paints, adhesives, tyres and aviation are likely to respond negatively to this while ONGC and Oil India can respond positively," said Vijayakumar.advertisement
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
16 minutes ago
- Economic Times
HCL Tech shares in focus after Volvo Cars picks firm for end-to-end engineering services
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Economic Times
22 minutes ago
- Economic Times
Wall Street banks resurge in second-lien loan market amid high demand
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
The Hindu
27 minutes ago
- The Hindu
Oil soars more than 9% after Israel strikes Iran, rattling investors
Oil prices surged more than 9% on Friday (June 13, 2025), hitting their highest in almost five months after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies. Brent crude futures jumped $6.29, or 9.07%, to $75.65 a barrel by 0315 GMT after hitting an intraday high of $78.50, the highest since January 27. U.S. West Texas Intermediate crude was up $6.43, or 9.45%, at $74.47 a barrel after hitting a high of $77.62, the loftiest since January 21. Israel strikes Iran LIVE: Military official says nuclear targets hit; explosions heard across Tehran Friday's gains were the largest intraday moves for both contracts since 2022 after Russia invaded Ukraine, causing energy prices to spike. Israel said it targeted Iran's nuclear facilities, ballistic missile factories and military commanders on Friday at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. "This has elevated geopolitical uncertainty significantly and requires the oil market to price in a larger risk premium for any potential supply disruptions," ING analysts led by Warren Patterson said in a note. Several oil traders in Singapore said it was still too early to say if the strike will affect Middle East oil shipments as it will depend on how Iran retaliates and if the U.S. will intervene. "It's too early to tell but I think the market is worried about shutting off of the Strait of Hormuz," one of the traders said. MST Marquee senior energy analyst Saul Kavonic said the conflict would need to escalate to the point of Iranian retaliation on oil infrastructure in the region before oil supply is materially impacted. He added that Iran could hinder up to 20 million barrels per day of oil supply via attacks on infrastructure or limiting passage through the Strait of Hormuz, in an extreme scenario. Iran's Supreme Leader Ayatollah Ali Khamenei said Israel will receive "harsh punishment" following Friday's attack that he said killed several military commanders. U.S. Secretary of State Marco Rubio on Thursday called Israel's strikes against Iran a "unilateral action" and said Washington was not involved while also urging Tehran not to target U.S. interests or personnel in the region. "Iran has announced an emergency and is preparing to retaliate, which raises the risk of not just disruptions but of contagion in other neighbouring oil producing nations too," said Priyanka Sachdeva, senior market analyst at Phillip Nova. "Although Trump has shown reluctance to participate, U.S. involvement could further raise concerns." In other markets, stocks dived in early Asian trade, led by a selloff in U.S. futures, while investors scurried to safe havens such as gold and the Swiss franc.
